Zacks: Brokerages Anticipate Fred’s, Inc. (FRED) to Announce -$0.07 Earnings Per Share

Analysts expect Fred’s, Inc. (NASDAQ:FRED) to announce earnings of ($0.07) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Fred’s’ earnings, with estimates ranging from ($0.11) to ($0.03). Fred’s reported earnings per share of ($0.18) in the same quarter last year, which suggests a positive year-over-year growth rate of 61.1%. The firm is scheduled to report its next quarterly earnings results on Tuesday, August 29th.

On average, analysts expect that Fred’s will report full year earnings of $0.03 per share for the current fiscal year. For the next financial year, analysts expect that the firm will report earnings of $0.65 per share, with EPS estimates ranging from $0.50 to $0.79. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Fred’s.

Fred’s (NASDAQ:FRED) last announced its quarterly earnings results on Tuesday, June 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by $0.03. Fred’s had a negative net margin of 4.94% and a negative return on equity of 3.93%. The firm had revenue of $532.32 million during the quarter, compared to analyst estimates of $520.28 million. During the same period last year, the firm earned $0.03 EPS. Fred’s’s quarterly revenue was down 3.1% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Fred’s from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Finally, Deutsche Bank AG restated a “hold” rating and issued a $17.00 price target (down from $19.00) on shares of Fred’s in a report on Saturday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.80.

A number of large investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its stake in Fred’s by 5.4% in the first quarter. Great West Life Assurance Co. Can now owns 47,266 shares of the company’s stock worth $619,000 after buying an additional 2,417 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Fred’s by 24.2% in the first quarter. Wells Fargo & Company MN now owns 776,513 shares of the company’s stock worth $10,172,000 after buying an additional 151,144 shares during the last quarter. IFP Advisors Inc boosted its stake in Fred’s by 279.2% in the first quarter. IFP Advisors Inc now owns 24,501 shares of the company’s stock worth $321,000 after buying an additional 18,039 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in Fred’s during the first quarter worth approximately $142,000. Finally, Louisiana State Employees Retirement System boosted its stake in Fred’s by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $187,000 after buying an additional 200 shares during the last quarter.

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Shares of Fred’s (NASDAQ:FRED) traded down 1.52% during trading on Tuesday, hitting $10.35. 201,247 shares of the stock traded hands. Fred’s has a 1-year low of $7.89 and a 1-year high of $21.77. The firm’s market capitalization is $393.83 million. The firm has a 50-day moving average of $13.42 and a 200-day moving average of $14.74.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, May 30th. Fred’s’s payout ratio is -8.54%.

Fred’s Company Profile

Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:FRED”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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